RBI pause interest rate hike!
Finally, Reserve Bank of India (RBI) has kept the interest rates unchanged! This is the first time midst this year RBI has paused the hike.
During this year RBI has hiked the interest rate nearly 13 times within a span of 21 months. Also central bank has shown clear signs of interest rates dropping down from the current levels.
Increasing interest rates took the financial market nowhere but dampened the realty sales and demand for home loans.
However, RBI’s latest initiative has contended the loan buyers and this implementation will come into rule once all the housing finance companies agrees.
Source: NDTV
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